Legal Four-Family
898 Hancock Street Brooklyn, NY 11233
898 Hancock Street, Brooklyn, NY, 11233
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For Sale
Contact for pricing
Fully vacant four-family building with a Certificate of Occupancy issued in 2005 and a 2,000 SF garden floor.
Property Size6,110 SF
Price / SF$425.53
Days on Market78
Property Features for 898 Hancock Street
General Information
- Standard status
- Active
- Size
- 6,110 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2005
Listing agency
Marcus & Millichap - Manhattan
Listed by
Andrew Bronsteen · License #NY10401314581
Source
Crexi
Added: May 5 Updated: Jul 20 at 8:23PM Checked: Jul 21 at 6:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
898 Hancock Street presents a fully vacant, legal four-family building in Brooklyn, delivered completely empty for immediate control. The property is 26.67 feet wide and includes a Certificate of Occupancy issued in 2005, reducing uncertainty commonly associated with older multifamily buildings.
The building provides 6,110 square feet plus an additional 2,000 SF garden floor with 7’ ceilings. This layout offers substantial interior depth and ceiling height in the garden level, supporting a range of renovation and reconfiguration options.
The building is located near the J and Z trains, with direct access to Manhattan while remaining in a neighborhood context where renovated multifamily product is actively pursued. The combination of legal configuration, vacancy at delivery, and sizable total area makes this a straightforward acquisition for buyers seeking a four-family asset ready for renovation or conversion planning.
The building provides 6,110 square feet plus an additional 2,000 SF garden floor with 7’ ceilings. This layout offers substantial interior depth and ceiling height in the garden level, supporting a range of renovation and reconfiguration options.
The building is located near the J and Z trains, with direct access to Manhattan while remaining in a neighborhood context where renovated multifamily product is actively pursued. The combination of legal configuration, vacancy at delivery, and sizable total area makes this a straightforward acquisition for buyers seeking a four-family asset ready for renovation or conversion planning.
Key Highlights
- Fully vacant legal four‑family building in Brooklyn with a Certificate of Occupancy issued in 2005.
- Delivered empty with no tenants in place.
- 26.67' wide building with 6,110 SF plus a 2,000 SF garden floor featuring 7' ceilings.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $311.6k | $51.00 |
| − Vacancy | −$5.9k | −$0.97 |
| EGI | $305.7k | $50.03 |
| − OpEx | −$91.7k | −$15.01 |
| NOI | $214.0k | $35.02 |
6,110 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$3.06M
$2.67M – $3.57M
NOI $213,983 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$2.66M
$2.33M – $3.11M
NOI $186,532 @ 7.0% cap · market cap 7.17%
Theoretical Best
Specialty Retail
$5.06M
$4.43M – $5.90M
NOI $354,136 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
computer support
Computer & Electronic Repair
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully vacant four-family building with a Certificate of Occupancy issued in 2005 and a 2,000 SF garden floor.
Where is this quadplex located?
The property is located at 898 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Fully vacant legal four‑family building in Brooklyn with a Certificate of Occupancy issued in 2005.; Delivered empty with no tenants in place.; 26.67' wide building with 6,110 SF plus a 2,000 SF garden floor featuring 7' ceilings.
